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Kleiner-Backed iControl Now Controls uControl As Home Automation Market Consolidates

November 4th, 2010 11:48 admin Leave a comment Go to comments

The home automation market is consolidating, as evidenced by a the merger today of iControl and UControl. Both offer home monitoring, security, and home healthcare products accessible through the Internet and mobile phones.

The value of the deal is not being disclosed, but Texas-based UControl will become a subsidiary of iControl and the name of the merged company will remain iControl Networks. The two CEOs, PAul Dewes and Jim Johnson, will remain as co_CEOS. John Doerr of Kleiner Perkins will remain on the board. IControl has raised $44 million in venture capital so far, compared to about $4 million for UControl.

Source: Kleiner-Backed iControl Now Controls uControl As Home Automation Market Consolidates

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